Stocks in Motion: AC Moore

Shares tank on weak comps and lowered guidance.
Author:
Publish date:

Shares of

SCS Transportation

(SCST)

were among the

Nasdaq's

losers Thursday, falling 12% after the company cut its 2005 earnings outlook.

The trucking transportation company now expects earnings of $1.35 to $1.50 a share, down from previous guidance of $1.55 to $1.70. Analysts polled by Thomson First Call had been expecting earnings of $1.65 a share. During the second quarter, the company expects $2.5 million, or 10 cents a share, in additional expenses. The higher-than-expected expenses relate to severe accidents at its Saia subsidiary and an adverse verdict related to a 2001 employment matter. The company's Jevic unit, meanwhile, continues to suffer from ongoing tonnage weakness. Analysts are expecting second-quarter earnings of 43 cents a share on sales of $272.3 million. Shares were recently trading down $2.15 to $16.01.

AC Moore Arts and Crafts

(ACMR) - Get Report

fell 15% after the company posted weak second-quarter same-store sales results and cut its full-year earnings forecast. The arts and crafts retailer posted a 0.5% increase in same-store sales, well below the 3.9% increase that analysts were expecting. For the second quarter, AC Moore expects to report a loss of 1 cent a share to a profit of 1 cent a share. Analysts had been expecting a profit of 5 cents a share. Looking ahead, the company now expects full-year earnings of $1 to $1.03 a share, down from previous guidance of $1.06 to $1.09 a share. Analysts had been expecting earnings of $1.12 a share. Shares were trading down $4.77 to $27.

Shares of

Applebee's

(APPB)

fell 3% after the company cut its second-quarter and full-year forecasts amid weak June same-store sales. The restaurant operator now expects second-quarter earnings of 33 cents to 34 cents a share, down from previous guidance of 36 cents to 38 cents a share. Full-year earnings are now expected to be between $1.44 and $1.47 a share, down from earlier guidance of $1.49 to $1.52 a share. Analysts had been expecting second-quarter earnings of 37 cents a share and earnings of $1.51 a share for all of 2005. Meanwhile, the company posted a 0.3% decline in June same-store sales. Comp-store sales at franchise restaurants rose 0.6% during the period. Comp-store sales at company restaurants, however, fell 3%, reflecting a 3.5% to 4% decrease in guest traffic, combined with a higher average check. Shares were trading down 69 cents to $24.91.

Pepsi Bottling Group

(PBG)

rose 5% after the company posted second-quarter earnings that were better than expected. The bottling company earned $148 million, or 59 cents a share, on sales of $2.86 billion. Analysts were expecting earnings of 56 cents a share on sales of $2.79 billion. A year ago the company earned $142 million, or 53 cents a share, on sales of $2.68 billion. Looking ahead, Pepsi Bottling now expects full-year earnings of $1.82 to $1.88 a share. Analysts are expecting earnings of $1.83 a share. Shares were trading up $1.45 to $29.65.

Shares of

Big Lots

(BLI)

fell 16% after the company posted disappointing same-store sales results and said that it would post weaker-than-expected results during the second and third quarters. The closeout retailer posted a 1.1% increase in June comp-store sales, well below the 3% to 5% increase the company had expected. For the second quarter, the company expects to report a loss of 9 cents to 12 cents a share. Analysts were expecting break-even earnings. For the third quarter, the company expects a loss of 18 cents to 22 cents a share, below the loss of 11 cents a share that analysts were expecting. Shares were trading down $2.07 to $11.23.

NYSE

volume leaders included

Charles Schwab

(SCH)

, up 92 cents to $12.90;

Pfizer

(PFE) - Get Report

, down 30 cents to $26.47;

General Electric

(GE) - Get Report

, down 31 cents to $34.01;

Lucent Technologies

(LU)

, down 3 cents to $2.90;

MBNA

(KRB)

, down 13 cents to $25.40;

Time Warner

(TWX)

, down 13 cents to $16.27;

Bank of America

(BAC) - Get Report

, down 24 cents to $44.46; and

Exxon Mobil

(XOM) - Get Report

, down 71 cents to $58.40.

Nasdaq volume leaders included

Microsoft

(MSFT) - Get Report

, down 13 cents to $24.57;

Intel

(INTC) - Get Report

, down 19 cents to $26.31;

Cisco Systems

(CSCO) - Get Report

, down 19 cents to $18.63;

Oracle

(ORCL) - Get Report

, down 9 cents to $13.23; and

Amgen

(AMGN) - Get Report

, up $2.31 to $65.91.